ZO6 cracker

hemistar1

we all take a bath as soon as we drive off that lot. I WOULD estimate anywhere 8 to 10 k. Now if a dealer wants to move units they may eat 20 %to 30 % of the cost of the trade in or "buy back" to get a newer unit out..hunt they always write that off as loss and reduce tax liability.

pretty slick..but a win &win for the dealer..

I have taken the bath twice but only once I made out alright when I traded a new 14 car for a new 15 model.

The dealer gave me about 2k more than kbb for a low mile suv..and then 13% off MSRP for the new car.. a few weeks later they listed my traded in 14 for 3k over what they gave me and sold it quickly.

A win for them. They moved a new unit and probably broke even on the trade in.

NORTY

Because some people don't think when making money decisions.

davepl

I guess that explains my iPhone 6S and the 2010 Range Rover I daily drive! I pay eagerly for features and power but don't care about release date much at all.

davepl

In the same vein I'd be careful about writing off 100% of a Corvette convertible as business use! You can write off personal use of a car, just don't get too creative!

davepl

Well, I can try. Why absorb literally $60,000 in depreciation cost (that's what GM is offering me by mail right on to go from my 2015 I think) to avoid a $600 or even $6,000 potential repair bill? From an economic perspective, it doesn't make a lot of sense because you can repair my 2015Z many, many times for the same cost.

And that's not the "drive a cheap old car and mod it" argument because I'm asserting they're largely the same car and the old one shouldn't break down more often than the new one (much, anyway).

I like warranties as well, I just wouldn't pay $60,000 to get a warranty, even with a little new car smell thrown in!

PatternDayTrader

I don't think anyone loses that much in depreciation. Especially when you consider that many folks do put some miles on the car, and therefore, are getting something out of it. Some real problems with repairs out of warranty are down time without the car, in most circumstances you cant really finance the expense, at least not at reasonable rates, and in many cases you are just plain taken advantage of, typically because of incompetence. In my opinion, the taken advantage of isn't even a monetary issue. I think people are hard wired biologically, to be absolutely repulsed by that possibility, and therefore are quite willing to spend a little extra on a newer car, so they are never in that position. Obviously its a personal preference issue, but between the expenses and grief of having to get a vehicle repaired, its easy to see why a warranty is actually worth it.

Dave80C3

I had a 14 Stingray, Z51, 3LT, M7 with NPP, Mag Ride, exposed carbon fiber roof and dash. Carbon Flash spoiler and mirror, carbon flash stinger and black wheels.

Traded it on an 18 Grand Sport, options are very similar. 3LT, M7, Mag Ride, exposed Carbon Fiber roof, dash, hood stinger, spoiler, side skirts and front spoiler, black wheels.

Real difference is one was a Stingray and this is a Grand Sport.

FunDriver

I doubt that many are leased but many people on leases trade in every few years. Also, besides the above reasons, running out of warranty might push someone in that direction.